NBU amends forex market rules

The NBU chairman Volodymyr Stelmakh announced that the central bank will change the rules of the interbank foreign exchange market to stabilize the hryvnya exchange rate. The new rules will be effective December 22 and will oblige commercial banks to participate in foreign exchange transactions only if the orders come from the banks’ clients. In addition, Volodymyr Stelmakh promised to increase refinancing rate substantially, to prevent the banks from attracting UAH resources to acquire US dollars.